Which is better while applying for IPO Net banking ASBA vs UPI ASBA?
|Feature||Net Banking ASBA||UPI ASBA|
|Security||High, as it’s integrated with bank’s secure online banking||Also secure, but relies on the security of UPI apps|
|Fund Blocking||Funds are blocked in the account and debited only on allotment||Same as Net Banking ASBA|
|Application Process||Via the bank’s internet banking portal||Via a broker’s IPO application portal, followed by UPI app authorization|
|Bank Account Limitation||Can only apply through banks offering ASBA facility||Can use any UPI-enabled bank account|
|Visibility and Control||Clear view of account balance and blocked amount via net banking||Depends on the UPI app’s interface and features|
|Transaction Limits||Generally no upper limit, subject to bank policies||Usually has a per-transaction limit (around INR 2 lakh, varies by bank)|
|Convenience for Large Applications||More suitable for high-value applications||May be restrictive due to UPI transaction limits|
|Ease of Use||Familiar for regular net banking users||Known for simplicity, especially for those comfortable with mobile apps|
|Accessibility||Limited to specific banks||Wider accessibility across various banks|
This information is fully given by ChatGPT-4 (OpenAI).